Female physicians – Bring data to the battle for gender-equal income
Just like in many other professions, there is a distinct inequality in male and female physician income, and that disparity begins straight out of school even with the same degree and the same GPA. Plus, your starting income often impacts your future years incomes, whether raises at the same medical…
Getting a raise – to the minimum
Current State Beware employers that regularly tout themselves as best-in-class, and don’t provide the data to back it up. Say you’ve got an employer who claims they hire the best. But they only target to pay 60% of the national average. Also, targeting and achieving are two different beasts. If…
What did October 2023’s new segment rate release mean for my pension lump sum? Strategies for cashing out
Back in November 2022, my pension value was updated with the October 2022 segment rate release, and the numbers weren’t pretty, with a drop of 53% of my pension lump sum value. Now that the November 2023 pension value update has happened, does it look any better? How bad is…
Is your raise really a raise, or a pay cut in disguise?
Yesterday I showed you why your employer may have had to have raised the deductible and out of pocket maximum on your high deductible health plan for 2024. You’ve also heard how much your pay raise for 2024 will be. But while your new insurance bills kick in January 1st,…
Why did my high deductible health plan’s deductible go up?
This fall during open enrollment you may have seen your employer state that the deductible for your high deductible health plan was going to increase “in accordance with 2024 IRS requirements”. What does that mean, and how does it impact you? While the words to describe this type of health…
New benefits go into effect January 1, 2024
For most employees, the new benefits elections you made in November 2023 go into effect January 1st 2024. And if you’re on Medicare, January 1st is when Medicare plans change over too. With those transitions, the benefit rules you’re used to may have changed, and you need to be aware…
Using your 2023 benefit funds before they time out
Many of the benefits you have through your employer have time constraints on them. Before your new benefits begin January 1, 2024, if you have any limited use funds, they will disappear after December 31st. Now is the time to spend them! What are limited use funds, that need to…
Do you know the 2024 tax-related contribution limits?
More and more of the 2024 tax related numbers have been released by the IRS throughout 2023. Here are those thresholds. Still need the 2023 thresholds? You can find those here. These numbers were released earlier this year Self HSA contribution – $4150 (up from $3850) Family coverage HSA contribution…
November 1st means Open Enrollment is here
If you are like many, your Open Enrollment period runs November 1st through November 15th. That means you have two weeks to select your benefit options. This is your opportunity to change your benefit elections for 2024, based on new understandings of how your benefits work, new changes to your…
Should you pre-elect to sell PTO?
Some companies have unlimited vacation policies, which as I’ve been explaining to my children lately, is likely a trap. Other companies offer vacation packages, but then the “needs of the business” still don’t allow you to take your vacation. Or maybe you have more vacation than you need. In the…